Connect with us

Latest News

Better Collective reports organic revenue growth of 19% in Q1

Published

on

Reading Time: 3 minutes

 

Interim report January 1 – March 31, 2021

Highlights first quarter 2021

  • Q1 revenue grew by 86% to 38,836 tEUR (Q1 2020: 20,921 tEUR). Organic revenue growth was 19%. The revenue split was 61% from Publishing and 39% from Paid Media.
  • Q1 EBITDA before special items increased 46% to 13,193 tEUR (Q1 2020: 9,045 tEUR). The EBITDA-margin before special items was 34%. EBITDA-margin was 51% in Publishing and 7% in Paid Media. The margin in the Paid Media segment was significantly impacted by the switch from pure CPA to hybrid revenue models at a cost of approx. 2 mEUR. Excluding these impacts, the margin would have been 19%.
  • Cash Flow from operations before special items was 16,102 tEUR (Q1 2020: 9,451 tEUR), an increase of 70%. The cash conversion was 121% due to an improvement of debtors and other short debt. End of Q1, capital reserves stood at 50.1 mEUR including cash of 34.8 mEUR and unused bank credit facilities of 15.1 mEUR.
  • New Depositing Customers (NDCs) was around 180.000 in the quarter (increase of 54%) and is at an all time high.
  • Better Collective has increased its ownership to 90% of the shares in Mindway AI that specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing and intervening in at-risk and problem gambling.
  • Better Collective has strengthened its position in the Swedish sports betting market by acquiring online sports betting media platform, Rekatochklart.com for 3.8 mEUR.

Significant events after the closure of the period

  • April revenue reached a record 13.1 mEUR, a growth of 185% vs. 2020, of which 51% was organic growth. Organic growth in the Publishing segment was 87% against a weak comparison due to the significant effect on April 2020 by the halt in sports during the COVID lockdown. In the Paid Media segment, organic growth was 14% against a strong comparison, as the halt in sports meant an increase in casino (predominant in the acquired Atemi Group)
  • On May 3, 2021, Better Collective signed an agreement to acquire 100% of the shares in The Action Network, Inc. for 240 mUSD (198 mEUR) on a cash and debt free basis. With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.
  • In April, a payment of 1.2 mEUR in cash, and 0.9 mEUR in shares were made to complete the 2020 earn-out payment relating to the acquisition of HLTV.
  • Following the AGM on April 26, 2021, Therese Hillman was elected to the Board of Directors. Therese is a Swedish national born in 1980. She is the current CEO of NOD, and was until recently Group CEO of NetEnt, a premium game supplier to online casino operators and listed on Nasdaq Stockholm.

Financial targets 2021
The Board of Directors have decided on targets for the financial year 2021 as announced in the full year report. Following the acquisition of The Action Network and contingent on the closing of the transaction in Q2, 2021, the financial targets for 2021 are updated: Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR). Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR). Total group organic growth is now expected to exceed 25% (previously more than 20%). See page 10 of the report for more detail.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q1 was another strong quarter for us with significant revenue growth and an increase in the number of New Depositing Customers of more than 50%. We have continued to strengthen our global market position with the addition of Swedish sports betting media platform, Rekatochklart, and most recently, US sports betting media market leader, Action Network, while also increasing our ownership of Mindway AI to 90% to further expand our initiatives within responsible gambling. We are very pleased with these accomplishments.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Powered by WPeMatico

Continue Reading
Advertisement

Gaming

SPRIBE Drops Aviator Challenges

Published

on

spribe-drops-aviator-challenges
Reading Time: 2 minutes

 

The world’s number one crash game gets even more thrilling with the addition of Missions, Races and Tournaments

SPRIBE, the award-winning developer behind the original crash game, Aviator, has added another tool to the box with the launch of Challenges, bringing even more excitement, entertainment and competition to the experience.

Aviator Challenges allows operators to launch Missions, Races and Tournaments, forging an additional competitive layer and even more social interaction, while providing a fresh way for players to engage with the game, which is now played by more than 60 million people per month.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Missions see players complete a task before a set deadline, while Races are similar but with a limited prize pool up for grabs, creating a strong sense of FOMO while helping operators control promo budgets. Tournaments then take the classic and well-loved format.

SPRIBE gives operators full control over creating and running Aviator Challenges, and they can choose the type, timing, prize, names, descriptions, colours, and tasks for deep personalisation and granular localisation.

Aviator Challenges has debuted with operators in Africa and will be rolled out globally over the coming weeks and months. This will be followed by the launch of regional tournaments, which again will debut in Africa before being made available internationally.

The launch of Challenges will drive even greater engagement with Aviator, which currently sees players place more than 400,000 bets per minute across 5,500+ online casinos and sportsbooks worldwide.

Giorgi Tsutskiridze, CCO at SPRIBE, said: “Challenges take the Aviator experience to a whole other level for both players and operators.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Those that have already embraced Challenges have seen an immediate, positive impact on player behaviour across core KPIs such as retention and bet numbers per player.

“To get the most out of Challenges, operators do need to be creative, especially when it comes to marketing support, segmentation, prize zones, rewards and tasks.

“But we have ensured Challenges have the flexibility to do this and a whole lot more.

“Aviator is already the number one crash game in the world with more than 60 million players a month, but with Challenges, we expect that number to climb ever higher.”

The post SPRIBE Drops Aviator Challenges appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Akhil Sarin Chief Marketing Officer at Stake

Stake strikes new global partnership with Street League Skateboarding

Published

on

stake-strikes-new-global-partnership-with-street-league-skateboarding

 

The worlds of street culture and cutting-edge entertainment collide as Street League Skateboarding (SLS) and online gaming powerhouse Stake announce a new global partnership.

This partnership, which kicked off with Stake center stage as the Presenting Rights Partner of SLS Miami and the first SLS Takeover in Santa Monica in May, will run throughout the SLS Championship Tour season, culminating with the Super Crown in São Paulo in December.

The wide-ranging partnership will see Stake prominently featured across the live events with branding on key skate course features and broadcast segments at the biggest skateboarding events worldwide.

Additionally, fans can expect to see the Stake brand integrated into the unique SLS social content, including the “What’s at Stake” event preview, and the all-new Game of S.T.A.K.E. – a creative twist on the classic Game of Skate, which will feature a head-to-head battle between SLS pros.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

To round out the partnership, Stake will also be the presenting rights partner of the annual Trick of the Year contest, which allows skaters worldwide to submit their tricks for the illustrious prize. The Trick of the Year award winners will be announced in December.

“We’re excited to welcome an exciting brand like Stake to the SLS family”, said Frank Lamicella, CEO of Thrill Sports and parent company of SLS. “This partnership will deliver innovative activation elements and experiences to both our brands and fans as we travel the world for the 2025 SLS Championship Tour.”

“Skateboarding is more than sport – it’s fashion, music, culture, and raw energy. That’s exactly the space Stake loves to play in, and SLS is the perfect partner to bring that to life,” said Akhil Sarin, Chief Marketing Officer at Stake. “This alignment makes it an excellent partnership for our brand.”

The post Stake strikes new global partnership with Street League Skateboarding appeared first on Gaming and Gambling Industry in the Americas.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Latest News

Lady of Fortune Destiny Spins returns with mystical upgrades

Published

on

lady-of-fortune-destiny-spins-returns-with-mystical-upgrades
Reading Time: < 1 minute

 

Play’n GO revives one of its earliest icons with Lady of Fortune Destiny Spins. The Lady steps back into the spotlight with a refreshed presence, ushering in a wave of unpredictability that rewards attention and patience in equal measure.

With a glowing crystal ball at her side, the Lady of Fortune transforms missed chances into charged potential. Every non-winning spin has the power to unlock the Pick Prize – a magical card reveal that can lead to valuable rewards. In both the base game and Destiny Spins, scattered symbols and upgraded Wild multipliers make sure momentum never fades.

The slot balances simplicity with suspense. The Destiny Spins feature, which can be re-triggered, gives players the opportunity to build on their fortune with up to 80 spins. Meanwhile, multipliers on Wilds – which can go as high as x10 – create a sense of build-up that complements the mystical tone. The three-way pay mechanic (left to right, right to left, and middle) adds a layer of accessibility for newer players while keeping seasoned fans engaged.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Thematically, this game draws from the original Lady of Fortune while refining her identity for a contemporary audience. Visually enriched and mechanically streamlined, this sequel captures the essence of the first title without leaning on nostalgia alone. It joins a family of fortune-themed slots that offer more than just luck – they offer layered decision-making wrapped in atmospheric presentation.

Magnus Wallentin, Games Ambassador at Play’n GO, said: “Bringing back the Lady of Fortune was a very deliberate choice. With Destiny Spins and the Pick Prize mechanic, we’re showing how classic themes can still feel fresh when paired with elegant design.”

Lady of Fortune Destiny Spins invites players to look beyond the obvious – the rewards may be hidden, but never out of reach.

The post Lady of Fortune Destiny Spins returns with mystical upgrades appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania